cyrpto Penguins, Pudgy, pushing Mark January 12, 2025 0 Comments

Are Pudgy Penguins pushing back?

The NFT market recovered despite weak crypto prices, with Bitcoin falling 3% to $94,000 and Ethereum falling sharply 9% to $3,200.

Even as the broader crypto market cap contracted to $3.3 trillion from last week’s $3.5 trillion, the NFT market turned positive.

According to CryptoSlam According to the data, NFT sales volume climbed 10.70% to $155.4 million this week. The increase in total sales is accompanied by a notable decline in the number of market participants, suggesting larger transactions from fewer buyers.

The weekly measurements are as follows:

NFT sales volume increased to $155.4 million from $132.7 million last week
NFT buyers fell 81.79% to 122,806
NFT sellers fell 73.24% to 104,090
Transactions edged up 0.16% to 1,483,044

Blockchain networks show mixed results

Ethereum (ETH) NFT sales increased 13.09% to $61.9 million, although the number of buyers fell 65.62% to 24,836. Wash exchanges on the network increased by 76 .73% to reach $25.1 million.

Bitcoin (BTC) NFTs saw modest growth, with sales up 1.97% to $30.8 million. The number of network buyers fell by 87.15% to 8,665.

NFT Sales Hit $155M, Pudgy Penguins Push Back With 82% Increase - 1 — Source: Blockchains by NFT sales volume (CryptoSlam)

Solana (GROUND) grew with a turnover of $20.1 million, up 9.96%. Mythos Chain is in fourth place with $12.4 million, up 4.39%. Base entered the top five with $8.4 million, a revenue increase of 211.18%.

The Pudy Penguins bounce back

Pudgy Penguins brought in revenue of $9.2 million, up 82.32%. The recovery brought more activity, with transactions up 50.70% and buyers up 67.39%.

BRC-20 NFTs took second place with $8.2 million, a growth of 40.78%. DMarket remained stable in third place with $7.2 million, up 8.06%, and maintained high volume with 282,071 transactions.